College Fund Challenge

This is a discussion on College Fund Challenge within the Trading Journals forums, part of the Reception category; Originally Posted by tkbieber I think someone calculated that one time I had a 42% dd. It was -219 pips. ...

View Poll Results: How close to my goal of $2,000,000 do you think I will get?
You think I will blow the account and my $100 will be lost. 79 58.52%
You think I will somewhat earn a profit $200-$1,500. 17 12.59%
You think I will get a pretty good return but not close to $2,000,000. 27 20.00%
You think I will get way more then $2,000,000. 12 8.89%
Voters: 135. You may not vote on this poll

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Old Aug 25, 2011, 11:07pm   #201
Joined Feb 2011
Re: College Fund Challenge

Quote:
Originally Posted by tkbieber View Post
I think someone calculated that one time I had a 42% dd. It was -219 pips. It depends on the account I suppose. The below account say Max DD was 46%.

You can view the highest and lowest DD by going to this account. It give you more data with respect to high/low trades and also how many pips a month my system gets.
I got this from the site above:
I trade the GBPUSD with over 98% accuracy. I am after 25 pips per trade with a stop loss of 250 pips. I will open only one trade at a time per direction. In some cases there will be a hedging situation but if you are unable to hedge then allow only one open trade at a time. Otherwise, please use maximum of TWO open trades and leverage about .10 cents per $100 in your balance. Please monitor your trades every day because your account is going to grow fast. I recommend leverage of 1:200 however, 1:50 will work but you need to probably risk only 5-7% per trade. I personally risk upwards of 60% per trade because of the great performance I have with this system. I am starting with a $100 in my account. My goal is to reach $2,000,000 in 2 years.
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Old Aug 25, 2011, 11:10pm   #202
Joined Feb 2011
Re: College Fund Challenge

Quote:
Originally Posted by tkbieber View Post
What you are seeing is correct. What is happening is when the market gets to a per-defined point in the positive direction, the SL moves from -250 to above the buy or sell line. Basically, I am after 25 pips each trade but you will see those +1 or +2 days. That is because the SL got hit.
I think I understand it. You open a trade in the direction of the last 2 days.
You place a 250 pip stop loss on it. (And you pray that it does not take out the stop loss )
When it finally goes into profit of around 10 pips, the stop loss is moved to 1 pips above your entry price.
Your TP price is 25 pips on all trades.
You use leverage of 1:200
You risk UPWARDS of 60% of account balance on each trade.

Did I miss anything or am I mistaken on any point?
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Old Aug 26, 2011, 12:31am   #203
Joined Sep 2010
Re: College Fund Challenge

tkbieber started this thread
Quote:
Originally Posted by shewolf View Post
I think I understand it. You open a trade in the direction of the last 2 days.
You place a 250 pip stop loss on it. (And you pray that it does not take out the stop loss )
When it finally goes into profit of around 10 pips, the stop loss is moved to 1 pips above your entry price.
Your TP price is 25 pips on all trades.
You use leverage of 1:200
You risk UPWARDS of 60% of account balance on each trade.

Did I miss anything or am I mistaken on any point?
Humm, well the direction of trade for the last 2 days?
Incorrect, trade is triggered when indicators say to trigger a trade.

Leverage of 1:200?
I use from 1:50 - 1:500 ******** standard accounts are 1:300 and mini is 1:500.

As with any system. If you expect a certain percentage of accuracy, say 70% accuracy, no need to worry and "pray". In fact, if you are comfortable about your trading style, you can relax and go on vacation. Once you become comfortable with your system, trading becomes fun and non-stressful.

I have multiple accounts where risk ranges from 5%-60% risk per trade.
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Old Aug 26, 2011, 1:18pm   #204
Joined Sep 2010
Re: College Fund Challenge

tkbieber started this thread Well, we had another profitable week. There was no trade today.

Account 2: +7.9% for the week
Month total so far: +25%
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Old Aug 26, 2011, 1:43pm   #205
Joined Sep 2010
Re: College Fund Challenge

Quote:
Originally Posted by tkbieber View Post
Incorrect, trade is triggered when indicators say to trigger a trade.
An interesting trading system. What indicators are you using to trigger a trade?
__________________
Keep Calm and Carry On
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Old Aug 26, 2011, 2:29pm   #206
Joined Oct 2010
Re: College Fund Challenge

Quote:
Originally Posted by tkbieber View Post
Well, we had another profitable week. There was no trade today.

Account 2: +7.9% for the week
Month total so far: +25%
Hello there, also no trade today,
started august 10..212.56
august 26..233.55 not many trades, but no losses.
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Old Aug 26, 2011, 11:52pm   #207
Joined Sep 2010
Re: College Fund Challenge

tkbieber started this thread
Quote:
Originally Posted by joke View Post
Hello there, also no trade today,
started august 10..212.56
august 26..233.55 not many trades, but no losses.
You should see an average of eight 25-pip wins a month and a few more 1-2 pip trades.

Yes, this system isn't about quantity but quality.
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Old Aug 27, 2011, 8:31am   #208
Joined Sep 2010
Re: College Fund Challenge

Starting funds on Monday 13th June £391

ACCOUNT BALANCE JUNE 2011
13th £391 = $642
17th £428 = $688
24th £443 = $707

ACCOUNT BALANCE JULY 2011
1st £458 = $733
8th £487 = $777
16th £492 = $793 Trade still open over the weekend
22nd £510 = $825
29th £498 = $811 Closed manually to avoid open trade over weekend

ACCOUNT BALANCE AUGUST 2011
5th £514 = $839
12th £514 = $839
19th £543 = $896
17th £610 = $991
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